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Investments in Unconsolidated Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]  
Investments In Unconsolidated Joint Ventures
The investments in unconsolidated joint ventures consist of the following at December 31, 2022 and December 31, 2021:
 Carrying Value of Investment (1)
EntityPropertiesNominal % OwnershipDecember 31, 2022December 31, 2021
(in thousands)
Square 407 Limited PartnershipMarket Square North50.00 %$(6,198)$(1,205)
BP/CRF Metropolitan Square LLCMetropolitan Square20.00 %(37,629)(15,356)
901 New York, LLC901 New York Avenue25.00 %(2) (12,493)(12,597)
WP Project Developer LLC
Wisconsin Place Land and Infrastructure
33.33 %(3) 31,971 33,732 
500 North Capitol Venture LLC500 North Capitol Street, NW30.00 %(9,185)(7,913)
501 K Street LLC
1001 6th Street
50.00 %(4) 42,922 42,576 
Podium Developer LLCThe Hub on Causeway - Podium50.00 %46,839 48,980 
Residential Tower Developer LLCHub50House50.00 %45,414 47,774 
Hotel Tower Developer LLC
The Hub on Causeway - Hotel Air Rights
50.00 %12,366 11,505 
Office Tower Developer LLC100 Causeway Street50.00 %59,716 57,687 
1265 Main Office JV LLC1265 Main Street50.00 %3,465 3,541 
BNY Tower Holdings LLCDock 72 50.00 %(5)(19,921)28,412 
CA-Colorado Center, LLCColorado Center50.00 %233,862 231,479 
7750 Wisconsin Avenue LLC 7750 Wisconsin Avenue 50.00 %52,152 61,626 
BP-M 3HB Venture LLC3 Hudson Boulevard25.00 %116,397 116,306 
SMBP Venture LPSanta Monica Business Park55.00 %164,735 156,639 
Platform 16 Holdings LPPlatform 1655.00 %(6)158,109 109,086 
Gateway Portfolio Holdings LLCGateway Commons50.00 %(7)324,038 327,148 
Rosecrans-Sepulveda Partners 4, LLCBeach Cities Media Campus50.00 %27,000 27,106 
Safeco Plaza REIT LLCSafeco Plaza33.67 %(8)69,785 72,545 
360 PAS Holdco LLC360 Park Avenue South42.21 %(9)114,992 106,855 
PR II/BXP Reston Gateway LLCReston Next Residential20.00 %(10)11,351 N/A
751 Gateway Holdings LLC751 Gateway 49.00 %(7)80,714 N/A
200 Fifth Avenue JV LLC200 Fifth Avenue26.69 %120,083 N/A
$1,630,485 $1,445,926 
 _______________
(1)Investments with deficit balances aggregating approximately $85.4 million and $37.1 million at December 31, 2022 and December 31, 2021, respectively, are included within Other Liabilities in the Company’s Consolidated Balance Sheets.
(2)The Company’s economic ownership has increased based on the achievement of certain return thresholds. At December 31, 2022 and December 31, 2021, the Company’s economic ownership was approximately 50%.
(3)The Company’s wholly-owned subsidiary that owns Wisconsin Place Office also owns a 33.33% interest in the joint venture entity that owns the land, parking garage and infrastructure of the project.
(4)Under the joint venture agreement for this land parcel, the partner will be entitled to up to two additional payments from the venture based on increases in total entitled square footage of the project in excess of 520,000 square feet and achieving certain project returns at stabilization.
(5)This property includes net equity balances from the amenity joint venture.
(6)This entity is a VIE (See Note 2).
(7)On June 16, 2022, in accordance with the Gateway Commons joint venture agreement, 751 Gateway was segregated into a new single-purpose joint venture.
(8)The Company’s ownership includes (1) a 33.0% direct interest in the joint venture, and (2) an additional 1% interest in each of the two entities through which each partner owns its interest in the joint venture.
(9)The Company’s ownership includes (1) a 35.79% direct interest in the joint venture, (2) an additional 5.837% indirect ownership in the joint venture, and (3) an additional 1% interest in each of the two entities through which each partner owns its interest in the joint venture. The Company’s partners will fund required capital until their aggregate investment is
approximately 58% of all capital contributions; thereafter, the partners will fund required capital according to their percentage interests.
(10)The Company’s partner will fund required capital until its aggregate investment is approximately 80% of all capital contributions; thereafter, the partners will fund required capital according to their percentage interests.
Schedule Of Balance Sheets Of The Unconsolidated Joint Ventures [Text Block]
The combined summarized balance sheets of the Company’s unconsolidated joint ventures are as follows: 
December 31, 2022December 31, 2021
 (in thousands)
ASSETS
Real estate and development in process, net (1)$6,537,554 $5,579,218 
Other assets756,786 586,470 
Total assets$7,294,340 $6,165,688 
LIABILITIES AND MEMBERS’/PARTNERS’ EQUITY
Mortgage and notes payable, net$4,022,746 $3,214,961 
Other liabilities (2)716,271 652,135 
Members’/Partners’ equity2,555,323 2,298,592 
Total liabilities and members’/partners’ equity$7,294,340 $6,165,688 
Company’s share of equity$1,238,929 $1,104,175 
Basis differentials (3)391,556 341,751 
Carrying value of the Company’s investments in unconsolidated joint ventures (4)$1,630,485 $1,445,926 
_______________
(1)At December 31, 2022 and December 31, 2021, this amount included right of use assets - finance leases totaling approximately $248.9 million. At December 31, 2022 and December 31, 2021, this amount included right of use assets - operating leases totaling approximately $21.2 million and $22.3 million, respectively.
(2)At December 31, 2022 and December 31, 2021, this amount included lease liabilities - finance leases totaling approximately $382.2 million and $385.5 million, respectively. At December 31, 2022 and December 31, 2021, this amount included lease liabilities - operating leases totaling approximately $30.5 million and $30.4 million, respectively.
(3)This amount represents the aggregate difference between the Company’s historical cost basis and the basis reflected at the joint venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials result from impairments of investments, acquisitions through joint ventures with no change in control and upon the transfer of assets that were previously owned by the Company into a joint venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the joint venture level. The majority of the Company’s basis differences are as follows:
December 31, 2022December 31, 2021
Property(in thousands)
Colorado Center$301,820 $304,776 
200 Fifth Avenue94,497 N/A
Gateway Commons47,808 51,009 
Dock 72(98,980)(50,051)
These basis differentials (excluding land) will be amortized over the remaining lives of the related assets and liabilities.
(4)Investments with deficit balances aggregating approximately $85.4 million and $37.1 million at December 31, 2022 and December 31, 2021, respectively, are reflected within Other Liabilities in the Company’s Consolidated Balance Sheets.
Statements Of Operations Of The Joint Ventures
The combined summarized statements of operations of the Company’s unconsolidated joint ventures are as follows: 
 Year ended December 31,
 202220212020
 (in thousands)
Total revenue (1)$512,078 $383,649 $319,560 
Expenses
Operating198,632 158,498 144,347 
Transaction costs837 470 1,027 
Depreciation and amortization181,041 147,121 141,853 
Total expenses380,510 306,089 287,227 
Other income (expense)
Loss from early extinguishment of debt(1,327)— — 
Interest expense(154,065)(108,884)(98,051)
Unrealized gain on derivative instruments1,681 — — 
Gains on sales of real estate (2)— — 11,737 
Net loss$(22,143)$(31,324)$(53,981)
Company’s share of net loss$(2,551)$(10,254)$(16,256)
Gain on sale of investment (3)— 10,257 — 
Impairment loss on investment (4)(50,705)— (60,524)
Basis differential (5)(6,584)(2,573)(8,330)
Loss from unconsolidated joint ventures$(59,840)$(2,570)$(85,110)
_______________ 
(1)Includes straight-line rent adjustments of approximately $62.9 million, $17.2 million and $(10.1) million for the years ended December 31, 2022, 2021 and 2020, respectively.
(2)For the year ended December 31, 2020, represents the gain on sale of Annapolis Junction Building Eight and two land parcels. The gain on sale of real estate is included in Loss from Unconsolidated Joint Ventures in the Company’s Consolidated Statements of Operations.
(3)During the year ended December 31, 2021, the Company completed the sale of its 50% ownership interest in Annapolis Junction NFM LLC. The Company recognized a gain on sale of investment of approximately $10.3 million.
(4)During the years ended December 31, 2022 and December 31, 2020, the Company recognized an other-than-temporary impairment loss on its investment in the unconsolidated joint venture that owns Dock 72 in Brooklyn, New York totaling approximately $50.7 million and $60.5 million, respectively.
(5)Includes straight-line rent adjustments of approximately $0.5 million, $0.8 million and $1.8 million for the years ended December 31, 2022, 2021 and 2020, respectively. Also includes net above-/below-market rent adjustments of approximately $0.4 million, $0.4 million and $0.9 million for the years ended December 31, 2022, 2021 and 2020, respectively.